CL and EL prize money to be reduced for five years

The clubs which win or go far in the Champions League and Europa League will earn less money than beforehand. Due to the coronavirus crisis, UEFA have lost a lot of money so the prize money will be reduced, 'The Times' says. 

The European organisation admitted to the member associations that they have lost 606 million euros on the club competitions. This due to the fact that many of the knockout matches were one legged instead of two and so television companies had to receive compensation. 

606 million euros represent 22% of the organisation's prize fund, so reducing the fund until 2025 is vital. That said, it will cause a domino effect which will weaken the European clubs: they have lost more money than usual and if they get less in prize money, they will not get back as much money as they would like. 

That said, there are teams who will be affected more than this. Clubs which often go far in the Champions League and Europa League like Real Madrid, Barcelona and Bayern will feel it more. Others though like debutants Granada will still enjoy the extra money they get.